You work in the marketing department of shoe firm Hermes Inc. Over the past month you have been working with management to revise the company's mission statement and set specific marketing goals for the upcoming year. Today you are meeting with your marketing team and discussing the next step in the strategic planning process. What is this next step?
A. Formulating corporate and business-unit strategies
B. Analyzing the organization's strengths and weaknesses and identifying its threats and opportunities
C. Determining performance standards to analyze the successful implementation of goals
D. Evaluating the performance of the marketing strategy
E. Writing up a marketing plan
Answer: A
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Which of the following product categories typically requires high-tech positioning?
A) special-interest products B) global-village products C) products that solve a common problem D) products with universal themes
An employee with strong moral character and behavior has worked at a small company for many years. The company grows large enough to implement a formal code of ethics. How is this employee likely to react to that new code?
a. with resentment b. by embracing its provisions c. by rejecting it d. with indifference
When the allowance method of recognizing bad debt expense is used, the entry to record the write-off of a specific uncollectible account would decrease
a. allowance for doubtful accounts. b. net income. c. net realizable value of accounts receivable. d. working capital.
In the cash flow statement, cash is defined as:
a. quick assets. b. literal cash on hand or on demand deposit, plus cash equivalents. c. literal cash on hand or on demand deposit, plus marketable securities. d. all of the above.